By Sarah Lizee
Olympia, Wash., Sept. 3 – Smurfit Kappa Group plc announced that wholly owned subsidiary Smurfit Kappa Treasury Unlimited Co. priced an upsized offering of €750 million of 1½% notes due 2027 on Monday.
The company had originally planned to offer €500 million of the notes.
The new notes will be issued by Regulation S.
The group intends to use the proceeds from the offering, together with cash on hand, to redeem in full the senior floating rate notes due 2020 and €250 million of the 3.25% senior notes due 2021 issued by Smurfit Kappa Acquisitions Unlimited Co. The redemptions are expected to take place on Oct. 3.
Smurfit is a Dublin-based packaging company.
| Issuer: | Smurfit Kappa Treasury Unlimited Co.
|
| Issue: | Notes
|
| Amount: | €750 million
|
| Maturity: | 2027
|
| Coupon: | 1½%
|
| Pricing date: | Sept. 2
|
| Settlement date: | Sept. 16
|
| Distribution: | Regulation S
|
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